Casey's General Stores, Inc. (NASDAQ:CASY) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Casey's General Stores, Inc. has received a consensus rating of "Moderate Buy" from analysts, with a price target average of $467.33 over the next 12 months.
• The company reported a strong quarterly earnings performance, achieving $2.63 earnings per share and a 10.9% increase in revenue year-over-year, surpassing analysts' expectations.
• Casey's recently increased its quarterly dividend from $0.50 to $0.57 per share, reflecting a growing commitment to return value to shareholders.

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) has been given an average rating of "Moderate Buy" by the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $467.3333.

CASY has been the subject of a number of recent analyst reports. Stephens reaffirmed an "overweight" rating and set a $490.00 price target on shares of Casey's General Stores in a report on Tuesday, June 10th. Wells Fargo & Company lifted their price target on Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. KeyCorp lifted their price target on Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Royal Bank Of Canada lifted their price target on Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 9th. Finally, BMO Capital Markets lifted their price target on Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a report on Wednesday, June 11th.

Casey's General Stores Stock Up 0.0%

Shares of NASDAQ CASY opened at $496.78 on Wednesday. The company has a market capitalization of $18.47 billion, a price-to-earnings ratio of 33.93 and a beta of 0.69. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.48. The business has a 50-day moving average of $514.67 and a two-hundred day moving average of $464.38. Casey's General Stores has a 1 year low of $350.52 and a 1 year high of $531.24.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results on Monday, June 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.69. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%.Casey's General Stores's revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.34 EPS. On average, analysts forecast that Casey's General Stores will post 13.94 earnings per share for the current fiscal year.

Casey's General Stores Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date was Friday, August 1st. Casey's General Stores's payout ratio is presently 15.57%.

Insider Buying and Selling at Casey's General Stores

In other news, insider Chad Michael Frazell sold 4,808 shares of Casey's General Stores stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $503.97, for a total transaction of $2,423,087.76. Following the sale, the insider owned 11,480 shares in the company, valued at approximately $5,785,575.60. The trade was a 29.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Darren M. Rebelez sold 20,000 shares of Casey's General Stores stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $507.83, for a total value of $10,156,600.00. Following the sale, the chief executive officer owned 89,840 shares in the company, valued at $45,623,447.20. This trade represents a 18.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,646 shares of company stock valued at $22,136,614. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Casey's General Stores

Institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC increased its position in Casey's General Stores by 50.2% in the 4th quarter. Integrated Wealth Concepts LLC now owns 2,592 shares of the company's stock valued at $1,027,000 after acquiring an additional 866 shares during the period. Security National Bank increased its position in Casey's General Stores by 9.7% in the 1st quarter. Security National Bank now owns 5,674 shares of the company's stock valued at $2,463,000 after acquiring an additional 504 shares during the period. Cornerstone Wealth Management LLC acquired a new position in Casey's General Stores in the 1st quarter valued at about $201,000. M&T Bank Corp increased its position in Casey's General Stores by 39.6% in the 1st quarter. M&T Bank Corp now owns 2,515 shares of the company's stock valued at $1,092,000 after acquiring an additional 713 shares during the period. Finally, Ground Swell Capital LLC acquired a new position in Casey's General Stores in the 1st quarter valued at about $338,000. Institutional investors and hedge funds own 85.63% of the company's stock.

Casey's General Stores Company Profile

Casey's General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.

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